You need an appraisal if the car donation value is over $5,000.

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Car Donation Tax Deduction and other Car Donation topics.

How do I accurately value my vehicle?

You need an appraisal if the car donation value is over $5,000.

If your donation is worth more than $5,000, then you will need an appraisal and a signed 8283 tax form for your tax purposes. Most charities that accept car donations can arrange to have your vehicle valued by an independent appraiser and provide you with all the necessary documentation to properly claim your tax deduction without any cost to you. It is important to get accurate automobile donation valuations. The charity you choose can help you to learn how to value cars.

   

Comments

Nobody has commented on this tip yet. Be the first.



Name:


URL: (optional)


Comment:


Not finding the advice and tips you need on this Car Donation Tip Site? Request a Tip Now!


Guru Spotlight
Lynne Christen